Laurence Sims owns a football team that plays its home games in City Stadium. To increase revenue, he is offering a sponsorship to Specialty Sports, a company that makes sports equipment. Specialty Sports wants to provide all of the team's equipment and pay for the right to place its logo on the team's uniforms. Currently the team spends $175,000 on equipment annually. How much will Specialty Sports need to pay for the right to place its logo on the team's uniform if Laurence wants to make $412,000 on the offer?
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